Strategy Implementation

Tankiso Moloi () and Tshilidzi Marwala
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Tankiso Moloi: University of Johannesburg, School of Accounting
Tshilidzi Marwala: University of Johannesburg

Chapter 4 in Artificial Intelligence and the Changing Nature of Corporations, 2021, pp 37-50 from Springer

Abstract: Abstract This chapter discusses strategy implementation. From the onset, it highlights some key definitions of strategy implementation. This discussion is followed by a brief distinction between strategy implementation and strategy execution. Some activities in strategy implementation are briefly outlined, and some factors that firms need to consider as they implement strategies are discussed. The chapter further outlines the typical pitfalls and mitigations for successful strategy implementation. The terms strategy implementation and strategy execution are sometimes used interchangeably, even though some researchers argue that these are different processes. Planning, organising, leadership and control are essential activities for strategy implementation. To implement the strategy successfully, firms need to have the right people. They need to allocate adequate resources to provide support to the business units to execute the strategy. As firms consider strategy, the executive layer of the firm must define the lines of communication throughout the firm. Firms further need to consider the systems, tools and capabilities that the firm has to be in a position to facilitate the implementation of strategies, and they will need to promote a culture of cooperation, responsibility and accountability.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:fuobcp:978-3-030-76313-8_4

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DOI: 10.1007/978-3-030-76313-8_4

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